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Dec 3, 2012
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and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. >>> wa year was that one? that had to be a long time ago. when was he? you weren't around. none of us. now, the indication is for a positive opening. that's just over a third of a percentage point. the strike at the port of los angeles in long beach is entering its seventh day this morning. contract talks are between clerical workers and shippers. the walkout has dramatically slowed activity. stock workers refuse to cross picket lines set up by union clishgal workers. we're going to take one more break. this is the way we do these things. we have to do a certain amount for every 60 minutes. if we have a long 15-minute period, they know we go back to back on something. if you have any questions, e-mail us squawk@cnbc.com. becky will see it. i won't. follow us on twitter. @cnbc.com is our handle. up next, dominos, the comp
and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. >>> wa year was that one? that had to be a long time ago. when was he? you weren't around. none of us. now, the indication is for a positive opening. that's just over a third of a percentage point. the strike at the port of los angeles in long beach is entering its seventh day this...
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Dec 18, 2012
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high yield, corporate america, still around 6.5% and loans are around 5% and a more short duration assets. she should be trading at the higher end of the market. >>> when when we talked to david tepper, he said equities are the better value at this point. would you agree with that? >> yeah. i think if we get past this fiscal plan, all likelihood is next year will be a positive year. think about what can drive equity returns next year, it will be more about multiple expansion. he think there will be some leverage growth. where are you going the drive equity returns will be if multiples increase and really drive equity valuations. the high yield market in a lower growth stable market is going to get you good, stable returns with a lot less volatility. we do like some equities here, but we also like the credit markets and the loan markets. >> kevin, why doebts you weigh in on where things stand right now. we know what the fed is doing at this point. if washington gets its act together and we see some sort of an agreement, does that change the situation drastically? >> well, the market moved
high yield, corporate america, still around 6.5% and loans are around 5% and a more short duration assets. she should be trading at the higher end of the market. >>> when when we talked to david tepper, he said equities are the better value at this point. would you agree with that? >> yeah. i think if we get past this fiscal plan, all likelihood is next year will be a positive year. think about what can drive equity returns next year, it will be more about multiple expansion. he...
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Dec 20, 2012
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we've delivered over 600 in north america so far. it's a huge success. it's the quickest car in its segment. it has a carbon fiber construction. a lot of formula one drive technology. 0 to 60 in about three seconds and a quarter of a mile in under 11 seconds. >> you said you can roll down the back so you can still hear the engine. must be a really cool sound, right? >> you sure can. let me finish closing up -- >> the back? >> yeah, andrew, you had to keep your finger on that thing. >> here we go. >> might open now. >> open up. >> that's okay. we can open it and start. >> yeah. >> all right. >> i'll back up with my mike back here. >> wow. >> it's pretty. >> i think you're talking to me telling me we need to go, right? >> we do need to go. >> can't hear. >> you square for the quality, not at the quality, i mean it's not going to be like some british car where you got to drop the engine to change the wiper blade, right? >> you make this car in our technology center just outside of london, the same place where our formula one cars are designed and built. >>
we've delivered over 600 in north america so far. it's a huge success. it's the quickest car in its segment. it has a carbon fiber construction. a lot of formula one drive technology. 0 to 60 in about three seconds and a quarter of a mile in under 11 seconds. >> you said you can roll down the back so you can still hear the engine. must be a really cool sound, right? >> you sure can. let me finish closing up -- >> the back? >> yeah, andrew, you had to keep your finger on...
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Dec 28, 2012
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we spend about $90 billion a year in cap-ex restoring america's infrastructure. so these are things that are critical not only to southern but the hole utility industry. >> ed, where do you think, john, what should we do with dividends? >> i think rates are going to go up. because we already have the obama care. >> so what? >> i think we'll probably see 20% for both not counting the obama care. >> is that the right answer? >> well, i'd like to keep them as low as possible. but given that they're going to need to raise some money, my guess is they're going to go up modestly. i think 20 is probably about right. it's a better answer than ordinary income rates on dividends. but i'd like to ask tom, you know, people who point to the dividend effect also think it might be overblown because about 70% of dividend paying stocks are owned by investors, either foreigners, or in tax -- you know, tax exempt plans, retirement accounts, where tax rate doesn't matter. does that make you feel a little bit better about what might be going on in washington? >> no. look, we know tha
we spend about $90 billion a year in cap-ex restoring america's infrastructure. so these are things that are critical not only to southern but the hole utility industry. >> ed, where do you think, john, what should we do with dividends? >> i think rates are going to go up. because we already have the obama care. >> so what? >> i think we'll probably see 20% for both not counting the obama care. >> is that the right answer? >> well, i'd like to keep them as...
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Dec 10, 2012
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that was the date that intermec announced it was obtaining bank of america merrill lynch. yes, everybody we're up for sale. >> let's get back to the economic impact of the fiscal cliff and growth prospects for 2013. joining us on set is nathan sheets, he is citigroup global head of international economics. he's also a former fed director of international finance and ian shepherdson, chief economist from pantheon economics, and our senior economics reporter, steve liesman rejoins us again. and we did, we were interrupted our conversation by this tv show, which always seems to do that. we were having like a great conversation and boom, the cameras are on. but ian, the latest thing i asked you about next year's growth. you said 2%. then year after that, 3% to 3.5%. then we got to basically to say we shouldn't be doing any tightening of any kind right now, fiscally, no tax increases, no government spending, we don't need to right now. >> let it all rise. >> the economy, in your view -- >> can i say what you said? >> euro friend? >> i'm in favor of trying euro trend. >> that's
that was the date that intermec announced it was obtaining bank of america merrill lynch. yes, everybody we're up for sale. >> let's get back to the economic impact of the fiscal cliff and growth prospects for 2013. joining us on set is nathan sheets, he is citigroup global head of international economics. he's also a former fed director of international finance and ian shepherdson, chief economist from pantheon economics, and our senior economics reporter, steve liesman rejoins us again....
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Dec 19, 2012
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this is america. we don't let frequent heartburn come between us and what we love. so if you're one of them people who gets heartburn and then treats day after day... block the acid with prilosec otc and don't get heartburn in the first place! [ male announcer ] one pill each morning. 24 hours. zero heartburn. nespresso. where i never have to compromise on anything. ♪ where just one touch creates the perfect coffee. where every cappuccino and latte is only made with fresh milk. and where the staff is exceptionally friendly. ♪ nespresso. what else? can i still ship a gift in time for christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas delivery. >>> hanging with mr. cooperman. hedge fund, titan and ceo of omega advisor. can a shipping giant deliver for investors? inching closer with washington on the first quarter? i don't know. the second hour of squawkbox begins right now. >> good morning, everybody. welcome back to "squawk box" on cnbc. i'm becky
this is america. we don't let frequent heartburn come between us and what we love. so if you're one of them people who gets heartburn and then treats day after day... block the acid with prilosec otc and don't get heartburn in the first place! [ male announcer ] one pill each morning. 24 hours. zero heartburn. nespresso. where i never have to compromise on anything. ♪ where just one touch creates the perfect coffee. where every cappuccino and latte is only made with fresh milk. and where the...
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Dec 14, 2012
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america's natural gas... domestic, abundant, clean energy to power our lives... that's smarter power today. can i still ship a gift in time for christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas delivery. i have obligations. cute tobligations, but obligations.g. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal.
america's natural gas... domestic, abundant, clean energy to power our lives... that's smarter power today. can i still ship a gift in time for christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas delivery. i have obligations. cute tobligations, but obligations.g. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks...
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Dec 13, 2012
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he's landed in america. we've got that story now. we also have duelling guest hosts ready to take the stage coming up at 7:00 eastern time. mat miller and joe watkins, they're going to go at it. they're going to be rising above, thinking below. more on squawk as we continue. [ male announcer ] you are a business pro. governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro. yes, it is. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. i have obligations. cute tobligations, but obliga
he's landed in america. we've got that story now. we also have duelling guest hosts ready to take the stage coming up at 7:00 eastern time. mat miller and joe watkins, they're going to go at it. they're going to be rising above, thinking below. more on squawk as we continue. [ male announcer ] you are a business pro. governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can...
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Dec 26, 2012
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bank of america will review options for merrill lynch. behind these walls, citigroup's investment bank will shrink considerably. if that deal market returns as well as valuations, citibank could sell all its crisis tinged bad bank city holdings. about jpmorgan, it forced ceo jamie dimon to clean house, a doz doz dozen executives leave original changing roles. and mike cavanaugh, the new ceo of the investment bank and not so dark horse to succeed dimon. battles will brew over regulation. the consumer financial protection bureau will crank down on overdraft fees, a big chunk of bank revenues. >>> two key facets of the fed will reach the finish line and volcker rule completed by the end of the mid-year and the trillion dollar derivatives industry. if any of this hurts competition abroad, expect banks to sue. >> let's see how financials fair. brendan how kin, the director of research at ebn. i don't know if you had a chance to see what she had to say. do you agree with that assessment? >> i did get a chance. i have a slightly deficit take. i
bank of america will review options for merrill lynch. behind these walls, citigroup's investment bank will shrink considerably. if that deal market returns as well as valuations, citibank could sell all its crisis tinged bad bank city holdings. about jpmorgan, it forced ceo jamie dimon to clean house, a doz doz dozen executives leave original changing roles. and mike cavanaugh, the new ceo of the investment bank and not so dark horse to succeed dimon. battles will brew over regulation. the...
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Dec 24, 2012
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i just want to say, you know, america is an awesome, amazing place. i know things have been tough and there's a lot of kind of back and forth about politics. but it's pretty amazing, the opportunities that we all get here. and that we just -- we've been dreaming big and -- >> that's great. >> and it's been awesome. >> you live where there's 300 days of sunshine a year. >> not a lot of folks know that, too. snow in the mountains. boulder is heaven. >> you were smart to go to school there. i wish i did. >> it's the greatest place. we'll be out there in march. maybe we'll stop by and take a tour. >> we would love to see you and we so appreciate this opportunity to be with you guys. >> coming up, attention road warriors. are you a frequent flyer? if you think you have a lot of miles under your belt, you have not seen anything yet. wait for this. until you hear from our next guest, united airlines' top flyer of all of 2012. omnipotent of opportunity. you know how to mix business... with business. and you...rent from national. because only national lets you
i just want to say, you know, america is an awesome, amazing place. i know things have been tough and there's a lot of kind of back and forth about politics. but it's pretty amazing, the opportunities that we all get here. and that we just -- we've been dreaming big and -- >> that's great. >> and it's been awesome. >> you live where there's 300 days of sunshine a year. >> not a lot of folks know that, too. snow in the mountains. boulder is heaven. >> you were smart...
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Dec 17, 2012
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economist at bank of america, merrill lynch. you're going to get some clients today asking what do you think of the fiscal cliff? and have things changed in your mind in terms of how you're advising them. what are you going to tell them? >> i think i'm pretty encouraged by the news of the weekend. i think there's still a lot of negotiating that has to be done. but the fact that boehner is talking about revenues is talking about extending the debt ceiling for another year, provided it comes with some spending cuts, i think that's encouraging. it shows that at least in the public eye we're now hearing that there's real negotiating going on. >> do we go past january 1st? it doesn't matter? >> i -- i think if there's -- it's a close call. i don't think we go past january 1st. but i do think it matters. i think if we fall off the cliff, i think it will take a long time -- i don't think it's a bungee jump. i think it will take some time to get back. >> thank you for being with us today. >> when we return, more of today's top stories.
economist at bank of america, merrill lynch. you're going to get some clients today asking what do you think of the fiscal cliff? and have things changed in your mind in terms of how you're advising them. what are you going to tell them? >> i think i'm pretty encouraged by the news of the weekend. i think there's still a lot of negotiating that has to be done. but the fact that boehner is talking about revenues is talking about extending the debt ceiling for another year, provided it...
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Dec 7, 2012
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and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. >>> welcome back. you can see the dow futures are down by about 23 points. s&p down by 2.25 points. in our headlines, head of irs warns if congress fails to reset the alternative minimum tax, there could be a delayed start to 2013 tax season. in programming its systems, the irs considered the congress would patch the amt. without another patch, the amt could hit as many as 33 million people for the 2012 tax year and it will take them some time to reset all of those forms. >>> and squawk is in session thorn with congressman peter roskam, member of the ways and means committee. thanks for joining us. >> good to be here. >> one of your quotes is that house republicans are prepared to get the yes, but not prepared to get to foolish. and 1.6 you would think is foolish. 800 people think maybe that's doable. could it just look
and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. >>> welcome back. you can see the dow futures are down by about 23 points. s&p down by 2.25 points. in our headlines, head of irs warns if congress fails to reset the alternative minimum tax, there could be a delayed start to 2013 tax season. in programming its systems, the irs...
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Dec 5, 2012
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and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. can i still ship a gift in time for christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas delivery. by december 22nd sfx- "sounds of african drum and flute" look who's back. again? it's embarrassing it's embarrassing! we can see you carl. we can totally see you. come on you're better than this...all that prowling around. yeah, you're the king of the jungle. have you thought about going vegan carl? hahaha!! you know folks who save hundreds of dollars by switching to geico sure are happy. how happy are they jimmy? happier than antelope with night-vision goggles. nice! get happy. get geico. >>> we can see that in the inverse relationship exhibited by price/earnings ratios and the rate of inflation in the past.
and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. can i still ship a gift in time for christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas delivery. by december 22nd sfx- "sounds of african drum and flute" look who's...
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Dec 4, 2012
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bank of america has 55 million customers here in america. they represent one out of every two households. so moynihan has a very good idea about what consumers are doing and if they spending less because of the fiscal cliff. here's what he had to say. >> i'm more about business behavior than consumer behavior. people continue to spend, housing is a little better. all the things that affect stock market are in decent shape. the question was will everything going on cause them on slow down again. >> what are you you see rg businesses right now? >> almost a year and a halving a go, businesses getting concerned about the nature of the dialogue about the fiscal situation? washington and in europe and the issues that had to be dealt with long term and how it affects near term business in terms of what would be accelerated appreciation for investment in business. what will be the final demand. so the uncertainty factor started weighing in and caused everybody to be much more cautious and continue to be more and more cautious worried about what migh
bank of america has 55 million customers here in america. they represent one out of every two households. so moynihan has a very good idea about what consumers are doing and if they spending less because of the fiscal cliff. here's what he had to say. >> i'm more about business behavior than consumer behavior. people continue to spend, housing is a little better. all the things that affect stock market are in decent shape. the question was will everything going on cause them on slow down...
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Dec 27, 2012
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it follows poverty trends in america. so there are pockets in the south, pockets in the appalachian mountains, pockets in urban areas that where there's poverty, there is going to be people needing help. and you know what? they're finding givelocally.net can deliver their needs quickerer, more efficiently than anything out there. we're passionate about helping as many as we can. >> is it set up as a corporation or a nonprofit? >> we made a kshgz decision not to be a 501(c)3 for many reasons, including there's no limit to where we can direct the money. so we can help anyone with any need that's legitimate. but here is the thing. the 501(c)3 exemption was added to this tax code in 1917. as beau said, there are more than 1 million registered 501(c)3s right now and poverty is at its historic high. if you're a business, that's a model one could argue isn't working. we're letting the market decide. we're letting the american people decide. do you want to give $50, $75, $100 on givelocally.net? >> how do you pay your expenses? >
it follows poverty trends in america. so there are pockets in the south, pockets in the appalachian mountains, pockets in urban areas that where there's poverty, there is going to be people needing help. and you know what? they're finding givelocally.net can deliver their needs quickerer, more efficiently than anything out there. we're passionate about helping as many as we can. >> is it set up as a corporation or a nonprofit? >> we made a kshgz decision not to be a 501(c)3 for many...
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Dec 12, 2012
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we need to have rational policy and do what's right for america. it can be done cleanly. >> would you prefer a carbon tax? >> i would be for eventually over time have a rational increase in something like a carbon tax, yes. >> what would that look like? >> by the way, we may not need it anymore. i don't want to get into policy like that. it's far more complicated than saying how you should do it. the real issue, i haven't looked at it for a long time, is regional. it costs a lot more to heat your home in michigan than it does in north dakota, because there's more coal in north dakota. hydroelectric is cheaper in maine. how do you do it that's fair to americans. you pay so much for energy and they pay a lot less elsewhere. how do you do it so it's fair. it's complex, but i think it can be done. >> housing policy. this is a piece of potentially a grand bargain. if we reduce the mortgage deduction, what happens? >> well, you say reduce it. first of all, i think it's already limited to $1 million, there's a cap on what you can deduct. it depends on how
we need to have rational policy and do what's right for america. it can be done cleanly. >> would you prefer a carbon tax? >> i would be for eventually over time have a rational increase in something like a carbon tax, yes. >> what would that look like? >> by the way, we may not need it anymore. i don't want to get into policy like that. it's far more complicated than saying how you should do it. the real issue, i haven't looked at it for a long time, is regional. it...
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Dec 21, 2012
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but america expects us to do that. we need to do that. and i've told john boehner that the leader and i will work on getting sufficient number of democrats to join with sufficient number of republicans to pass a balanced, bipartisan agreement that the president will sign, the senate will pass. you can't do it on a partisan basis. john boehner showed that last night. and just walking away and saying, now it's up to the president, and up to the senate, is not a helpful stance. we all are in this together. america expects us not to go over this cliff, and to work together to avoid that. and we need to do that. >> leader hoyer, i saw the poll last night and made me think this is bad news for the republicans, they can't control their caucus but it's also bad news for the white house and for everyone else in washington because it means all of the talk that we had to this point where speaker boehner was coming closer to some sort of a solution, it seemed like, with the president, we don't know if we can trust any of those deals at this point, ei
but america expects us to do that. we need to do that. and i've told john boehner that the leader and i will work on getting sufficient number of democrats to join with sufficient number of republicans to pass a balanced, bipartisan agreement that the president will sign, the senate will pass. you can't do it on a partisan basis. john boehner showed that last night. and just walking away and saying, now it's up to the president, and up to the senate, is not a helpful stance. we all are in this...
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Dec 11, 2012
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but america is facing a debt crisis. it is spending driven, and this talk about taxes is, fwrangly, almost -- >> am i right to read between the lines. it sounds like you are saying, it's a possibility, it could be bought if you see significant spending cuts, and dealings with the entitlement programs? >> becky, what i said earlier is this is written into current law. we know what's going to happen at the stroke of midnight. i didn't vote for any tax increases. i don't want them there. but i recognize them. it's the difference between me bringing something to the table and recognizing it's on the table. house republicans are going to work hard to minimize the increase in tax revenues. we're going to do everything we can to make sure that they are done in a way that doesn't harm the economy. an approach like simpson-bowles, which is to bring down rates, bring down marginal rates, and flatten and broaden the code. start to clear out all the loopholes that unfortunately the president seems to want to protect. but, again, you
but america is facing a debt crisis. it is spending driven, and this talk about taxes is, fwrangly, almost -- >> am i right to read between the lines. it sounds like you are saying, it's a possibility, it could be bought if you see significant spending cuts, and dealings with the entitlement programs? >> becky, what i said earlier is this is written into current law. we know what's going to happen at the stroke of midnight. i didn't vote for any tax increases. i don't want them...